Risk Assessments

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  • 1.  Environmental, Social and Governance (ESG) Metrics/Questions in Risk Assessments

    Posted 06-16-2020 07:24 AM
    Morning,

    Considering a pilot project to incorporate ESG questions (metrics & ratings) as we look at onboarding due diligence process of our 3rd party integrators, counterparties and potentially expanding into our critical and significant suppliers.  Anyone started incorporating ESG related due diligence into their questionnaires or 3rd party pre-qualifications?  

    If so and able to share an overview of the framework or questions that will be great.

    Thanks.

    Dave Ireson

    Manager, Supplier Risk Monitoring - Corporate Procurement



  • 2.  RE: Environmental, Social and Governance (ESG) Metrics/Questions in Risk Assessments

    This message was posted by a user wishing to remain anonymous
    Posted 06-17-2020 12:50 PM
    This message was posted by a user wishing to remain anonymous

    Kudos to you for moving towards ESG! I love the idea of incorporating this into your due diligence. I haven't actually seen it in place, but I agree that its the direction we're headed. I did find a site that I thought pretty informative becuase there is a checklist of considerations for each of the three categories: https://socialfintech.org/esg-an-introduction/. Maybe it will help! It would be great to hear some feedback on how the pilot played out, especially as it pertains to third party / vendor due diligence. 

    Anyone else incorporating ESG into this process?


  • 3.  RE: Environmental, Social and Governance (ESG) Metrics/Questions in Risk Assessments

    Posted 06-17-2020 01:30 PM
    Awesome and thanks for the link, will review.  Looking forward to hear from others and will report back on the pilot and the value gained from the inclusion of ESG in our onboarding questionnaires.


  • 4.  RE: Environmental, Social and Governance (ESG) Metrics/Questions in Risk Assessments

    Posted 06-17-2020 01:38 PM

    Thanks

     






  • 5.  RE: Environmental, Social and Governance (ESG) Metrics/Questions in Risk Assessments

    This message was posted by a user wishing to remain anonymous
    Posted 06-18-2020 10:02 AM
    This message was posted by a user wishing to remain anonymous

    The last several companies and many others I know have built these into contractual requirements.  Then you have a vendor who probably has an active program, can supply regular reports as artifacts, and is contractually agreed upon.  Doing Due Diligence if not contractually agreed upon is only providing you additional insight into the company and nothing to drive minimum expectations or maintenance.